Barclays Issues Positive Forecast for JFrog (NASDAQ:FROG) Stock Price

Key Points

• Barclays has raised JFrog's price target from $45.00 to $52.00, indicating a potential upside of 20.38% from its current stock price.
• JFrog recently reported $0.18 earnings per share, surpassing analysts' expectations, with a 23.5% year-over-year increase in revenue.
• Institutional investors now own 85.02% of JFrog's stock, reflecting strong interest from hedge funds and investment firms.

JFrog (NASDAQ:FROG - Free Report) had its target price lifted by Barclays from $45.00 to $52.00 in a research report released on Friday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities research analysts have also recently commented on FROG. DA Davidson raised their target price on JFrog from $40.00 to $45.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $46.00 target price on shares of JFrog in a report on Monday, May 5th. KeyCorp lifted their price objective on shares of JFrog from $46.00 to $52.00 and gave the stock an "overweight" rating in a research report on Friday. Robert W. Baird set a $47.00 price target on shares of JFrog and gave the company an "outperform" rating in a research report on Monday, August 4th. Finally, Scotiabank dropped their price target on shares of JFrog from $40.00 to $36.00 and set a "sector perform" rating on the stock in a research note on Thursday, April 24th. Two investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $46.87.

JFrog Stock Performance

Shares of FROG traded down $1.03 during midday trading on Friday, hitting $41.13. 1,278,559 shares of the company traded hands, compared to its average volume of 1,090,055. The stock has a market cap of $4.71 billion, a price-to-earnings ratio of -53.50 and a beta of 1.06. JFrog has a 52 week low of $25.78 and a 52 week high of $46.64. The firm has a 50 day moving average of $42.08 and a 200-day moving average of $37.96.

JFrog (NASDAQ:FROG - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.02. JFrog had a negative net margin of 18.18% and a negative return on equity of 7.66%. The company had revenue of $127.20 million for the quarter, compared to analyst estimates of $122.80 million. During the same period last year, the company posted $0.15 earnings per share. JFrog's revenue was up 23.5% compared to the same quarter last year. Sell-side analysts predict that JFrog will post -0.33 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CTO Yoav Landman sold 50,000 shares of the business's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $43.26, for a total value of $2,163,000.00. Following the completion of the transaction, the chief technology officer owned 6,371,086 shares of the company's stock, valued at $275,613,180.36. The trade was a 0.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Ben Haim Shlomi sold 54,279 shares of the business's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $43.07, for a total value of $2,337,796.53. Following the transaction, the chief executive officer directly owned 4,996,412 shares of the company's stock, valued at approximately $215,195,464.84. The trade was a 1.07% decrease in their position. The disclosure for this sale can be found here. Insiders sold 308,338 shares of company stock valued at $13,154,150 in the last ninety days. 14.10% of the stock is currently owned by insiders.

Institutional Trading of JFrog

Several institutional investors have recently added to or reduced their stakes in the stock. Segall Bryant & Hamill LLC raised its position in shares of JFrog by 20.6% during the second quarter. Segall Bryant & Hamill LLC now owns 347,326 shares of the company's stock worth $15,241,000 after purchasing an additional 59,261 shares during the period. Franklin Resources Inc. raised its position in shares of JFrog by 0.8% during the second quarter. Franklin Resources Inc. now owns 398,403 shares of the company's stock worth $17,482,000 after purchasing an additional 3,301 shares during the period. Hillsdale Investment Management Inc. acquired a new position in shares of JFrog during the second quarter worth approximately $2,102,000. JPMorgan Chase & Co. raised its position in shares of JFrog by 3.0% during the second quarter. JPMorgan Chase & Co. now owns 1,903,396 shares of the company's stock worth $83,521,000 after purchasing an additional 56,213 shares during the period. Finally, Swiss National Bank raised its position in shares of JFrog by 1.3% during the second quarter. Swiss National Bank now owns 186,000 shares of the company's stock worth $8,162,000 after purchasing an additional 2,300 shares during the period. 85.02% of the stock is currently owned by institutional investors.

About JFrog

JFrog Ltd. provides end-to-end hybrid software supply chain platform in the United States, Israel, India, and internationally. The company offers JFrog Artifactory, a package repository that allows teams and organizations to store, update, and manage their software packages; JFrog Curation that functions as a guardian outside the software development pipeline, controlling the admission of packages into an organization, primarily from open source or public repositories; JFrog Xray, which scans JFrog Artifactory to secure all software packages; JFrog Advanced Security, an optional add-on for select JFrog subscriptions; and JFrog Distribution that provides software package distribution.